Heard on the Street: Mideast unrest hits select shares

Investors have been cautious on companies like Punj Lloyd, IVRCL Infrastructures, Voltas, Everest Kanto and Praj Ind, which have business interests in the politically unstable Mideast and African countries. According to analysts, Punj Lloyd gets substantial orders from Libya.

Voltas has operations in both Egypt and Libya, while IVRCL Infrastructure and Everest Kanto receive work orders from several Gulf countries. About 10% of Praj's order book also comes from Gulf and African countries.

Analysts feel project execution will be delayed in countries like Libya and Egypt, which have been hit by political and social unrest. The shares of Punj Lloyd, IVRCL Infrastructures, Voltas and Everest Kanto have fallen 12 to 17% over the past one month.